BPR Bank Rwanda

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BPR Bank Rwanda Plc.
Company typeSubsidiary of KCB Group
IndustryFinancial services
Founded1975; 49 years ago (1975)
HeadquartersKigali, Rwanda
Key people
George Rubagumya
Chairman
Patience Mutesi
Managing Director[1]
Productsloans, checking, savings, investments, debit cards
RevenueIncrease Aftertax:RWF25.8 Billion (US$19.8 Million) (2023)[2]
Total assetsRWF:860 Billion (US$660 Million) (2023)[2]
Number of employees
1,300+ (2022)[3]
Websitebpr.rw
BPR Bank in Rwanda

BPR Bank Rwanda (Kinyarwanda: Banki y'Abaturage y'u Rwanda), formerly Banque Populaire du Rwanda SA, is a commercial bank in Rwanda. The bank is licensed by the National Bank of Rwanda, the central bank and national banking regulator.[4]

Overview

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BPR is a retail (consumer) bank, offering products that include current and savings accounts, debit and credit cards, mortgages and loans. The bank offers consumer banking tools like mobile banking, as well as agricultural business expertise to corporate customers in the food and agri-business value chain.[5]

As of May 2022, BPR Bank Rwanda Plc was a large financial services provider in Rwanda. Its total asset valuation was RWF:648 billion (US$642 million), with 154 networked branches.[6]

In 2016, BPR employed about 1,400 staff at that time.[7] In May 2022, the Rwanda Banker's Association reported that BPR Bank Rwanda Plc., employed over 1,300 people.[3]

In 2021, KCB Group successfully completed the acquisition of Banque Populaire du Rwanda Plc (BPR) from Atlas Mara Mauritius Limited and Arise B.V. In 2022, in line with its strategy for expansion and enhanced financial inclusion across the region, KCB Group successfully amalgamated Banque Populaire du Rwanda and KCB Bank Rwanda Plc to form BPR Bank Rwanda Plc. The success of this merger makes BPR Bank Rwanda Plc the second largest bank in the Rwanda banking sector. It is reported that KCB Group spent about KSh:6.3 billion (approx. US$55 million) in the acquisition process.[6]

History

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The origins of the bank can be traced back to 1975, when the first Banque Populaire du Rwanda was formed in the settlement of Nkamba, in the city of Kibungo, Eastern Province. Over the next ten years, many other similar banks were founded around the country. In 1986, the various autonomous Banques Populaires formed an umbrella called the Union des Banques Populaires du Rwanda (UBPR). UBPR was operated as a cooperative bank.[5]

In January 2008, following 33 years of experience in the Rwandan financial sector, UBPR was transformed from a cooperative bank into a commercial bank: Banque Populaire du Rwanda S.A.[8] In June 2008, Rabobank, the Dutch cooperative banking conglomerate, acquired 35 percent of the shares in BPR.[9] In July 2012, Visa Inc. certified the bank to issue visa-branded debit and credit cards.[10]

In January 2016, Atlas Mara completed its acquisition of a controlling stake of BPR after acquiring shares from existing shareholders[11] and merging the bank with the commercial banking business that was spun off Rwanda Development Bank.[12]

In 2021, KCB Group successfully completed the acquisition of Banque Populaire du Rwanda Plc (BPR) from Atlas Mara Mauritius Limited and Arise B.V. In 2022, in line with its strategy for expansion and enhanced financial inclusion across the region, KCB Group successfully amalgamated Banque Populaire du Rwanda and KCB Bank Rwanda Plc to form BPR Bank Rwanda Plc. The success of this merger makes BPR Bank Rwanda Plc the second largest bank in the Rwanda banking sector. It is reported that KCB Group spent about KSh:6.3 billion (approx. US$55 million) in the acquisition process.[6]

Ownership

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As of September 2022 the bank's stock was owned by the following shareholders, as outlined in the table below:[13]

Banque Populaire du Rwanda Stock Ownership
Rank Name of Owner Percentage Ownership
1 KCB Group
87.5
3 Other Minority Shareholders
12.5
Total
100.00

Branch network

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As of May 2022, BPR Bank Plc maintained a network of 154 full-service branches, and over 100 ATMs in all Regions of Rwanda.[14]

Governance

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The activities of BPR Bank Plc are supervised by a seven-member board of directors representing commercial activities, operations, risk and the branch network, headed by the Managing Director. The current chairman of the board is George Rubagumya. The day-to-day affairs of the bank are managed by a fifteen-member executive team, led by the Managing Director, Patience Mutesi.[15]

See also

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References

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  1. ^ Patrick Ndugidi (29 January 2023). "Patience Mutesi Appointed Managing Director of BPR Bank Rwanda Plc". African Shapers. Abidjan, Ivory Coast. Retrieved 8 July 2024.
  2. ^ a b BPR Bank Rwanda Plc. (13 May 2024). "BPR Bank Rwanda Registers Rwf25 Billion Profit After Tax". BPR Bank Rwanda Plc. Kigali, Rwanda. Retrieved 8 July 2024.
  3. ^ a b RBA (5 May 2022). "KCB Group Completes Acquisition Of Banque Populaire Du Rwanda". Rwanda Banker's Association (RBA). Kigali, Rwanda. Retrieved 8 July 2024.
  4. ^ National Bank of Rwanda (30 June 2017). "List of Licensed Banks As of June 2017" (PDF). Kigali: National Bank of Rwanda. Archived from the original (PDF) on 4 August 2017. Retrieved 24 July 2018.
  5. ^ a b Banque Populaire du Rwanda (24 July 2018). "History of Banque Populaire du Rwanda 2018". Banque Populaire du Rwanda. Kigali, Rwanda. Retrieved 24 July 2018.
  6. ^ a b c Kepha Muiruri (4 May 2022). "KCB Unveils Merged Rwanda Operations". Citizen Digital. Nairobi, Kenya. Retrieved 9 May 2022.
  7. ^ Robert Mbaraga (29 October 2016). "Banque Populaire to close 20 branches, trim workforce". The EastAfrican. Nairobi, Kenya. Retrieved 24 July 2018.
  8. ^ Peterson Tumwebaze (20 April 2009). "BPR made over Rwf2b profits in 2008". New Times (Rwanda). Kigali, Rwanda. Retrieved 24 July 2018.
  9. ^ Gertrude Magyambere (13 June 2008). "Rwanda: Dutch Bank Invests RWF6.5 Billion Into BPR" (via AllAfrica.com). New Times (Rwanda). Kigali, Rwanda. Retrieved 30 April 2015.
  10. ^ Dias Nyesiga (30 July 2012). "BPR Gets Visa Certification" (via AllAfrica.com). New Times (Rwanda). Kigali, Rwanda. Retrieved 30 April 2015.
  11. ^ Gahigi, Moses (7 January 2018). "Atlas Mara completes acquisition of second Rwandan bank". The EastAfrican. Nairobi. Retrieved 24 July 2018.
  12. ^ Tumwebaze, Peterson (21 January 2016). "BPR-BRD Commercial merger to be completed in six months". New Times (Rwanda). Kigali. Retrieved 24 July 2018.
  13. ^ Otiato Guguyu (6 September 2022). "KCB's stake in Rwanda unit rises by 10.8pc after merger". Business Daily Africa. Nairobi, Kenya. Retrieved 21 September 2022.
  14. ^ Hapa Kenya (4 May 2022). "KCB Group launches new banking subsidiary in Rwanda; BPR Bank Rwanda". HapaKenya.com. Nairobi, Kenya. Retrieved 21 September 2022.
  15. ^ BPR Bank Plc (4 May 2022). "About Us: Our Leaders: Board of Directors". BPR Bank Plc. Kigali, Rwanda. Retrieved 21 September 2022.
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